DUBLIN BUSINESSMAN Emmet Memery has consented to summary judgment against him for €2.3 million over a loan advanced in 2007 by a Latvian bank.

AS Rietumu Banka, the bank in which entrepreneur Dermot Desmond has a significant shareholding, secured the judgment yesterday in the Commercial Court in Dublin.

In the proceedings against Emmet Memery, Northumberland Road, Dublin, Mr Justice Mary Finlay Geoghegan was told Mr Memery was consenting to summary judgment for some €2.3 million being entered against him.

The bank said the loan was advanced to Mr Memery to purchase the entire share capital of a Latvian incorporated company.

After he failed to repay the loan, the bank referred the matter to arbitration in Latvia.

Mr Memery did not participate in that arbitration and the court of arbitration ruled in June 2009 that the bank was entitled to collect €2.3 million from him. The bank then served proceedings here.

In another case, a Kildare businessman is being pursued by Bank of Scotland Ireland for more than €16.5 million arising from unpaid loans advanced for a property company.

The bank’s action against Dermot O’Rourke, Keredern House, Naas, was admitted to the Commercial Court yesterday.

The bank’s claims arise from loan facilities advanced in July 2007 and February 2008, including a €15 million facility related to Oberstown Developments Ltd.

The bank claims it was agreed the loan would be repayable in full by August 27th last but Mr O’Rourke had failed to comply with his repayment obligations. A summary judgment application will be heard on December 18th.

In a third case, EBS claims some €5.9 million is owed by Denis O’Connell, a developer, Corbally Road, Cummer, Tuam, Co Galway, while more than €1.5 million is owed by Brendan and Susan Quirke, also of Cummer, Tuam, arising from loans advanced in 2007 and 2008 for investment in residential properties and to refinance existing loans.

The judge admitted the action but placed a stay on making further directions to allow the parties to consider mediation.

Earlier, the court was told by Ted Harding, for the defendants, that there had been correspondence between the sides at an earlier stage but this was followed by a “five-month silence” by the EBS after which it suddenly issued a letter of demand.

His clients could formulate a business plan within the next week, Mr Harding added.